A Week In Washington, DC, On A Joint $655,000 Income - Money Diary

[Anonymous]

Our income is similar. No, this isn't relatable because we have a mortgage and kids. We do get pet insurance (for the pp who found that strange- insurance is a practical expense).

[Anonymous]

Anonymous wrote:

Anonymous wrote:We have a decent HHI - much less than her but still a lot from my perspective - and I’m surprised by how cavalierly she spends money. $2k for a dress for Christmas party, hundreds on a tablecloth... what is the point of such excess? Gross.

She has a decent HHI, no kids, and more importantly, family money. You’re one of the poors so of course you’re not going to understand her spending.

Also they have no mortgage! Own an expensive house free & clear in their early 30s!!!

Very few people can relate to that level of comfort and security.

[Anonymous]

Anonymous wrote:Why the hell are people with this income buying pet insurance?!

We make a bit more than this and still buy pet insurance for our dog bc we got it 9 years ago when she was a puppy and now I am just used to buying it! But maybe we should drop!

[Anonymous]

Every time I read abt them, I am fascinated...pre-nups! I just can’t imagine. I am not super rich (old money that’s mostly run out) and I married someone who is much less rich than I am! So it literally never came up. But I NEVER EVER would do it ever. I am still shocked people agree to these.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We have a decent HHI - much less than her but still a lot from my perspective - and I’m surprised by how cavalierly she spends money. $2k for a dress for Christmas party, hundreds on a tablecloth... what is the point of such excess? Gross.

She's a wealthy woman. She lives well. If you saw her life you'd probably realize it's not unduly extravagant or vulgar. But she is surrounded by quality and pays for it.

Serious question- what could possibly make a dress worth $2K? What “quality” are you paying for that you wouldn’t get at, say, $200?

[Anonymous]

Pet insurance - makes sense just like human insurance. You hopefully rarely need it but it is helpful if your pet needs surgery or treatment which can cost thousands. I know 3 people (some who mocked the insurance) who each had to lay out $3-$6k just in past year.

That said sure if that amount is pocket change then who cares but for many it makes sense.

In the past people would put their pets to sleep but now there are advanced treatment for pets so they live longer. Next...Nursing homes for pets??

[Anonymous]

I wonder if they had children by now.

[Anonymous]

Anonymous wrote:Pet insurance - makes sense just like human insurance. You hopefully rarely need it but it is helpful if your pet needs surgery or treatment which can cost thousands. I know 3 people (some who mocked the insurance) who each had to lay out $3-$6k just in past year.

That said sure if that amount is pocket change then who cares but for many it makes sense.

In the past people would put their pets to sleep but now there are advanced treatment for pets so they live longer. Next...Nursing homes for pets??

Pet insurance absolutely does not make sense at that income level.

Insurance literally cannot exist if it's not paying out less than it's taking in, on average. That means if you can afford to self-insure, statistically you are always better off doing so.

The only reason to have insurance for anything is if it's legally required like a car, or if it is insuring something vital that you cannot afford to repair/replace yourself.

If you can afford any possible contingency like this couple can, then insurance is a sucker bet, especially because pet insurance is notorious for being even more stingy and denial-happy than human insurance.

[Anonymous]

I can't believe she's a surgeon and feels like she's lacking purpose in her life!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We have a decent HHI - much less than her but still a lot from my perspective - and I’m surprised by how cavalierly she spends money. $2k for a dress for Christmas party, hundreds on a tablecloth... what is the point of such excess? Gross.

She's a wealthy woman. She lives well. If you saw her life you'd probably realize it's not unduly extravagant or vulgar. But she is surrounded by quality and pays for it.

Serious question- what could possibly make a dress worth $2K? What “quality” are you paying for that you wouldn’t get at, say, $200?

You can't be serious. And I don't spend money on expensive dresses, but couture is an artform. And $2000 is relatively inexpensive for a well made dress.

[Anonymous]

What’s a family office??

[Anonymous]

Anonymous wrote:What’s a family office??

When people are uber-rich, they have an actual office of people who work for them to handle their money and affairs. Called the family office. Usually part of larger investment firms.

Good explainer here:
https://www.unionbank.com/private-banking/perspectives/building-your-wealth/who-needs-a-family-office-3-factors-to-consider

[Anonymous]

Anonymous wrote:

Anonymous wrote:What’s a family office??

When people are uber-rich, they have an actual office of people who work for them to handle their money and affairs. Called the family office. Usually part of larger investment firms.

Good explainer here:
https://www.unionbank.com/private-banking/perspectives/building-your-wealth/who-needs-a-family-office-3-factors-to-consider

Yeah but lots of rich people just outsource their family office. It's a flex to have one. Like when people talk about their private planes but it's just chartered

[Anonymous]

Anonymous wrote:I can't believe she's a surgeon and feels like she's lacking purpose in her life!

I had a friend tell me that being an ER doc at a level one trauma center wasn’t fulfilling, I was flabbergasted. They said they were good at it and had the right temperament for it. After thinking about it in those terms, I began to understand why they felt this way.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I can't believe she's a surgeon and feels like she's lacking purpose in her life!

I had a friend tell me that being an ER doc at a level one trauma center wasn’t fulfilling, I was flabbergasted. They said they were good at it and had the right temperament for it. After thinking about it in those terms, I began to understand why they felt this way.

I think it’s that’s she so young. I remember wasting so much time before kids just watching tv and eating and drinking. Sooo much time doing nada. She’s spending thousands every month on dogs to make themselves feel useful. I told my husband this story and he pointed out why have Netflix? They watch like 10 mins twice a week and fall asleep. Or when everything is given to you it’s seems bland. Not saying she didn’t work to be a doctor but a lot of people would do it if it was paid for them.